Published: Wed, July 11, 2018
Business | By Kate Woods

United States to slap tariffs on extra $200 billion of Chinese imports

United States to slap tariffs on extra $200 billion of Chinese imports

China responded with levies of its own, targeting $34 billion in US products such as pork and whiskey.

The US has ramped up its trade war with China, outlining a list of $200bn (£150bn) worth of additional products it plans to place tariffs on.

It also noted that the profits from reciprocal tariffs will mainly be used to minimize the damage to Chinese enterprises and their employees.

Trump last week said the United States may ultimately impose tariffs on more than US$500 billion worth of Chinese goods - roughly the total amount of USA imports from China past year.

Trump said last week the United States may ultimately impose tariffs on more than $500 billion worth of Chinese goods - roughly the total amount of USA imports from China a year ago.

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The tariff list could be released as soon as Tuesday, and likely this week, the report said. He added the U.S. is ready to target an additional $200 billion, and then $300 billion more should Beijing retaliate.

The move escalates the trade war between the world's two largest economies.

The U.S. complains that China uses predatory practices, including outright cybertheft, in a push to challenge American technological dominance.

"Rather than address our legitimate concerns, China has begun to retaliate against USA products".

The publication of the list starts a weeks-long process that includes a public-comment period and hearings.

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"China is forced to strike back to safeguard core national interests and the interests of its people", the Commerce Ministry said in a statement to CNN last week.

Senate Finance Committee Chairman Orrin Hatch, R-Utah, responded to Lighthizer's announcement with dismay.

"Tariffs are taxes, plain and simple".

Meh. What's $200 billion these days? Rather than address our legitimate concerns, China has begun to retaliate against US products. China has vowed to retaliate dollar-for-dollar to any further US tariffs.

"American families are the ones being punished". "We can not turn a blind eye to China's mercantilist trade practices, but this action falls short of a strategy that will give the administration negotiating leverage with China while maintaining the long-term health and prosperity of the American economy".

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